Berkshire Hathaway logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2023.
REUTERS/Brendan McDermidAug 7 (Reuters) - Berkshire Hathaway's (BRKa.N) stock price set a record high on Monday, rising more than 2%, after the conglomerate run by billionaire investor Warren Buffett said quarterly operating profit topped $10 billion for the first time.
In morning trading, Berkshire's stock price rose $14,300, or 2.7%, to $547,900, surpassing the previous high $544,000 set on March 28, 2022.
Keefe, Bruyette & Woods analyst Meyer Shields, who rates Berkshire "market perform," raised his price target to $565,000 from $545,000.
In 2023, Berkshire shares have slightly trailed the index, after outpacing it in 2022.
Persons:
Brendan McDermid, Warren Buffett, Clayton, Brian Meredith, Keefe, Meyer Shields, Buffett, Jonathan Stempel, Chuck Mikolajczak, Lance Tupper, David Gregorio Our
Organizations:
Berkshire Hathaway, New York Stock Exchange, REUTERS, Clayton Homes, Apple, Berkshire, UBS, Woods, Thomson
Locations:
Berkshire, New York City, U.S, Omaha , Nebraska, New York